The words "bargain" and "insurance" really shouldn't be used in the same sentence, specifically when you are trying to find the best car insurance rates for teenage females. In an attempt to save some money, let's take a look at some of the factors that impact auto insurance premiums, and find out if you can take the sting out of the next policy you buy.
For teen girls, one of the more important criteria that are used to help calculate the price you pay for insurance is where you call home. Areas with more people or even just a higher incidence of claims like Pueblo, Aurora, and Northglenn will most likely pay more, whereas areas with less congestion have the enjoyment of a little cheaper coverage.
The table below lists the most expensive areas in Colorado for teenage females in which to buy car insurance.
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Rate quotes are comparative as specific Colorado zip code can change coverage rates significantly.
The vehicle model to be insured is one of the main factors that determines the availablility of affordable car insurance for teenage females. Vehicles with high performance features, poor crash test ratings, or a history of substantial liability claims will cost substantially more to insure than safer models. The data below features car insurance prices for a number of the most economical vehicles to buy insurance for.
|Vehicle||Estimated Cost for Full Coverage|
|Ford Escape XLS 2WD||$3,407|
|Honda Accord LX-P 4-Dr Sedan||$3,417|
|Honda CR-V EX-L 2WD||$3,439|
|Volkswagen Jetta S 2.5 Station Wagon||$3,647|
|Chevrolet Silverado LS Regular Cab 4WD||$3,805|
|Chevrolet Impala LS||$4,013|
|Honda Odyssey EX W/Rear Entertainment||$4,023|
|Ford Edge SEL 2WD||$4,013|
|Toyota Tacoma 2WD||$4,021|
|Dodge Grand Caravan Hero||$4,044|
|Chevrolet Equinox LS AWD||$4,050|
|Toyota RAV4 Sport 4WD||$4,044|
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Data rating is based on single female driver age 16, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Colorado minimum liability limits. Discounts applied include safe-driver, and claim-free. Rates do not factor in specific zip code location which can change insurance rates significantly.
By looking at the data, vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Volkswagen Jetta are some of the most affordable vehicles to insure for teen girls. The price for an auto insurance policy will be higher anyway because of the fact that there is more claim exposure for teenage females, but generally speaking those specific models will most likely have the cheapest auto insurance rates that you are likely to find.
Finding dependable, affordable car insurance is confusing at best, and finding out which insurers offer the lowest-priced car insurance rates for teenage females in Colorado will require even more rate comparisons. Rates will probably be significantly greater than the state average attributed to the potential for higher claims that comes with offering coverage for teen girls, but competitive coverage may be achievable if you thoroughly shop around. Each company uses slightly different criteria to set their prices, so let's take a look at the most affordable car insurance companies in Colorado.
It's a good idea to be aware that Colorado car insurance rates are determined by lots of factors that can increase the cost of coverage. Simply improving your credit, buying a different vehicle, or getting caught speeding may generate price changes that may make certain companies cheaper than competitors.
Cheap Insurance Rates for Teens
|Rank||Company||Cost Per Year|
|15||Colorado Farm Bureau||$1,576|
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The Hartford generally has some of the most affordable car insurance rates in Colorado at around $825 a year. Grange, USAA, Nationwide, and GEICO are also some of the cheaper Colorado insurance companies.
As depicted above, if you are a policyholder with USAA and switched to The Hartford, you might see a yearly savings of in the neighborhood of $204. Customers with Nationwide may save as much as $318 a year, and GEICO insureds might see rate reductions of $362 a year.
Be aware that those estimates are averaged for all insureds and vehicles and do not take into consideration a price increase for teenage females. So the insurer that can offer you the lowest price may not even be in the top 21 companies shown above. That underscores the importance of why you need to get auto insurance quotes using your own individual information.
Colorado car insurance companies ranked
Picking a good quality auto insurance provider can be a challenge considering how many different insurance companies sell coverage in Colorado. The company ratings in the next section may help you choose which car insurance providers you want to consider purchasing from.
The ratings below are only made up of large insurance companies, so smaller companies that only insure vehicles in Colorado are not included in these rankings. If you wish to compare prices from the insurers below and more, simply click here.
Top 10 Major Auto Insurance Providers in Colorado Ranked by Customer Service
- State Farm
- The Hartford
- The General
- AAA Insurance
- American Family
Liability only or full coverage
Reducing the cost of car insurance is important to the majority of people, and a good way to pay less for insurance for teenage females in Colorado is to not insure for full coverage. The illustration below compares car insurance rates when comparing full coverage to liability only. The information is based on no accidents, no driving violations, $1,000 deductibles, single status, and no discounts are applied.
As an average for all age groups, full coverage costs an extra $1,598 per year more than just insuring for liability. Many drivers will wonder when is the right time to remove full coverage. There is no set rule to stop paying for comprehensive and collision coverage on your policy, but there is a general guideline you can use. If the annual cost of having full coverage is more than around 10% of the replacement cost of your vehicle minus the policy deductible, then it's probably a good time to buy liability coverage only.
There are some situations where removing full coverage is not in your best interest. If you still owe a portion of the original loan, you have to maintain full coverage as part of the loan requirements. Also, if you don't have enough money to buy a different vehicle in case of an accident, you should not consider dropping full coverage.
Here's why you should compare rates often
Colorado car insurance rates are impacted by many factors that will increase or decrease the cost of having a policy. Simply having another birthday, getting married, or getting a driving violation can trigger changes in premium that may make certain companies cheaper than others. Not only that, but insurers file new rates at least once a year in order to protect their financial rating. Unexpectedly high claims may cause more expensive prices, while less frequent claims can result in lower-priced Colorado car insurance rates.
To illustrate this example, the data below compares the cheapest car insurance in Colorado for a 40-year-old male driver with no accidents or violations, and great credit. When comparing rates based on his current risk profile, The Hartford quotes the lowest car insurance rates in Colorado at $825 per year. This is $753 less than the average price paid by Colorado drivers of $1,578. Grange, USAA, Nationwide, and Travelers are also on the list of the cheapest Colorado auto insurance companies.
In this next rate comparison, we will give the driver in the first chart a chargable claim, bad credit, and a stop sign violation. Because every insurance company has their own guidelines for setting rates, getting updated rate quotes will most likely result in a different set of affordable Colorado car insurance companies as shown below.
Auto-Owners now has the cheapest rate in Colorado with State Farm, American Family, Progressive, and Grange now being in the top five. This demonstrates why Colorado drivers need to compare many different companies when trying to find the best car insurance quotes for teenage females.
Auto insurance prices are made up of many risk factors and change dramatically, so the cheapest rate the last time you shopped your coverage around may now be quite expensive.